In order to improve education standards in the country, President Bola Tinubu on Monday signed the Students Loans Bill into Law, which was part of his campaigns promises.
The law would allow indigent students in tertiary institutions to access a Federal Government loan for the duration of their studies.
The presidential spokesman, Mr Dele Alake, said the bill would boost the educational pursuit of the youths across the country, adding that to enjoy the facility, students must show evidence of being indigent.
He said that a committee drawn from all the relevant educational stakeholders would be set up to handle the process of an efficient disbursement of the loans.
Alake said that a percentage of the revenue of the Federation would be used to finance the new initiative.